H.C. Wainwright analyst Andres Y. Maldonado maintained a Buy rating on ImmunityBio today and set a price target of $8.00.
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Andres Y. Maldonado has given his Buy rating due to a combination of factors that highlight ImmunityBio’s strategic advancements and potential market impact. The European Medicines Agency’s positive opinion recommending conditional marketing authorization for ANKTIVA in combination with BCG for patients with BCG-unresponsive non-muscle invasive bladder cancer is a significant milestone. This recommendation, which aligns with prior approvals in the United States and the United Kingdom, underscores the therapy’s potential as a globally validated treatment option.
Furthermore, the European market’s broad availability of multiple approved BCG substrains eliminates a key bottleneck faced in the U.S., allowing for more consistent treatment application. The compelling durability profile, with a 71 percent complete response rate and long-term responses, enhances confidence in ANKTIVA’s efficacy. This development not only expands ImmunityBio’s commercial opportunities in Europe but also reinforces regulatory confidence in the therapy’s underlying mechanism, positioning it as a restorative treatment. These factors collectively support Maldonado’s Buy rating for ImmunityBio’s stock.
In another report released on December 3, Piper Sandler also reiterated a Buy rating on the stock with a $5.00 price target.